Free Trial

(Z0) Attention Is On Trendline Resistance

US 30YR FUTURE TECHS
  • RES 4: 177-00 High Oct 2
  • RES 3: 176-10 High Oct 15 and a key resistance
  • RES 2: 175-14 50-day EMA
  • RES 1: 174-29 High Oct 28 / Trendline res. drawn off the Aug 6 high
  • PRICE: 174-03 @ 10:53 GMT Oct 29
  • SUP 1: 173-12 Low Oct 27
  • SUP 2: 171-22 Low Oct 23 and the bear trigger
  • SUP 3: 171-00 Round number support
  • SUP 4: 170-16 1.00 proj of Aug 6 - 28 sell-off from Sep 3 high

30yr futures traded higher again yesterday although they did find resistance at the day high. Price is approaching a key trendline resistance at 174-29. The trendline is drawn off the Aug 6 high. While the line holds, the downtrend that started on Aug 6 remains intact. A trendline break though would strengthen a short-term bullish case and importantly signal a trend reversal. This would open 176-10, Oct 15 high. Support is at 173-12, Oct 27 low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.